The European Champions, who recorded losses of £2.74 million, were knocked out of the top tier European rugby competition in a 30-19 loss to Leinster on Sunday.

Just two days later, reports emerged in the Times that their 50 per cent owners, the South African group led by Johann Rupert, were considering sale of their share of the club.

It’s understood the continued operating losses, as well as the lack of international appearances for Springboks at Saracens, persuaded the 50 per cent owners that the investment was no longer justified as a means of supporting internationals playing outside South Africa.

Johann Rupert told the Times that he also now believed it inappropriate that his investment was held through a public company Remgro: “One should not be using public shareholders’ money for your own loves.”

Saracens statement

In a statement to i, Nigel Wray said: “Remgro has been a fantastic shareholder in Saracens for the last nine years and, as shareholders do, they have decided to reduce their shareholding and I am very happy to say that I’ve decided to buy all their shares as I have huge faith and commitment to this club and everything it stands for.

“We have a great bunch of people, a great team and I like to believe that we are not just a rugby club, we are trying to stand for good things in the community; we are trying to build an extended wider sense of family if you like, indeed in September we are opening the Saracens High School. This is exciting stuff and needs to be built on solid ground.

“If you believe you have something great, then you must build in succession and sustainability. We all want Saracens to be great for the next 100 years and it’s quite likely, some might indeed even say probable, that I won’t be here for the next 100 years, so in due course we need to bring in extra investment into the club from outside.

“At this point I should say I have never sold a share in Saracens and never intend to. New money will always go into the club to continue building it for better and better things.

“Club rugby in my view is going to expand hugely in the years ahead, so we are already speaking to people, good people, who wish to invest in the club and take it forward but there is no rush for the moment, as it is so important to find really good people who share our values. This is a great club I want it to remain precisely that.”

A reorganisation in English rugby on the cards?

Exeter Chiefs remain the only Premiership club in profit as a number of clubs remain up for sale while operating at a loss.

Following the English national side’s dismal performance in the Six Nations, the question of central contracts in English rugby has arisen again as the systems in New Zealand and Ireland continue to produce players who perform well on the international stage. The financial woes of many Premiership clubs also contributes to these calls.

The head of the players’ union Damian Hopley called last month for a discussion of central contracts in English rugby. He told the Telegraph in March: “In all these discussions around ring-fencing and season structure, you have to throw central contracts in there as well.

“It is a huge taboo within English rugby and this is not the decry what the English clubs have done because without their investment the game would be decimated. When you look at the Irish and New Zealand models you have to say that it is working at international level so is that the answer?

“It may not be but you need to have these discussions in a mature and enlightened way rather than an arms-folded, let’s have a fight manner.”

Leinster loss

The timing of the reporting of the sale intention is rather soon after Saracens have lost their European crown. The North London sides were back-to-back champions of Europe until Leinster ended their run on 1 April.

Following the loss to Leinster on Sunday, the Saracens director of Rugby Mark McCall said: “The team have been magnificent for two or three seasons now. To have won it twice is such an achievement – it’s hard enough to get out of your pool these days.

“They defended brilliantly and they hit us hard on the counter-attack. Their first try was a great try but I thought we responded to that pretty well.

“We spoke at half-time about how it was a really even game but we started the second half really poorly. They scored ten points, and we couldn’t catch them after that.

“It was a one-point game at half-time. In a game like this, to chase the game from 10-11 points behind, it’s very difficult against a defensive side as good as Leinster.”

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